It is possible to go solar in Colorado and save money. However, it is important that you understand all options. Find out about Colorado's community solar programs and sales tax exemptions. Also, find out how much Denver solar panels cost. It's possible to go solar in Colorado for a very affordable price.
Community solar programs
Colorado is the top state in America for community solar that is equity-oriented. Xcel Energy (the state's biggest utility) has also agreed to participate with the state in community solar projects. These community solar projects will lower electricity bills for both residents and businesses.
The Colorado Energy Office started a demonstration project in 2015 to demonstrate the feasibility of community-solar models for low-income families. The demonstration project was designed to help Colorado households cut their energy costs. It also serves as a complement to the state’s weatherization program. The CEO awarded a $1.2 million grant to GRID Alternatives, which worked with rural utilities to develop a portfolio of eight community solar projects that served 380 low-income households. As the demonstration project was successful, the CEO formed a partnership with the utilities and leveraged the investment.
Sales tax exemption
Solar power is a great option to power your home and save money. Colorado solar panels can be tax exempt. The state's Sales and Use Tax Exemption for Renewable Energy Equipment means that you'll pay no sales tax on the price of your solar panels, as well as any increase in value. You can find out more about this exemption when you speak to a solar professional in your area.
Also, you'll save money on installation. Colorado does not impose a sales tax on solar panels, unlike other states. You can also use your solar tax credit as a way to offset installation costs. The solar tax credit means that you don't need to pay property taxes if the panels aren’t producing electricity. And, of course, you'll get all kinds of incentives from local governments and utility companies, including net metering, power purchasing agreements, and more.
Colorado cost of solar panels
When it comes to solar panel installation, Colorado is one of the best states in the United States. The cost of installing solar panels in your home depends on the size of the system you want, the wattage you require, and the quality of the panels. You can save money by buying high-quality, brand name solar panels rather than cheap imports.
Colorado has solar energy that is far cheaper than traditional utility power. A standard solar power system costs approximately 18 cents/kWh. However, the price of installing a solar power system, maintenance, and installation is not included. This investment will pay off in the long term. You can also receive tax credits and rebates in Colorado. Federal government announced that solar power systems will receive a 26% tax credit by 2020. Public utilities also often offer incentives to solar systems that are able to feed back energy into the grid. These incentives can also be searched in the Database of State Incentives for Renewables & Efficiency.
Denver Solar Costs
A reputable company is essential if you want to put solar panels on your Denver home. A skilled solar contractor will be well-versed in the regulations of your area, including building codes. Local permits should also be a part of their knowledge. Selecting a top-rated, reputable solar company will save you time and help ensure your project is completed on schedule.
The federal tax credit covers 30% of the total cost to install solar panels in Colorado. To encourage solar panel installations, utilities often offer rebates and other financial incentives. Colorado businesses will often offer incentives that are based on the amount of solar energy produced. For homeowners, the net-metering policy may be a great incentive.